How can you better manage your student budget?
Draw up a monthly budget
Here's a two-step process to help you manage your student budget.The first step is to create a clear picture of your income and expenses. Write down your sources of income (grants, parental assistance, student jobs, etc.) and list your recurring expenses (rent, food, transport, subscriptions, etc.). This will help you become really aware of the money coming in and going out of your bank account, so you can improve for the month ahead.
An application like Bankin' or your own banking app can help you track your spending in real time.
Then set yourself certain amounts not to exceed for each expense category. For example, determine a precise budget for your outings, food or clothing purchases, and stick to it scrupulously.
If you reach the limit you've set yourself, postpone the purchase or find a cheaper alternative.
Take advantage of student discounts
Take advantage of your student status to get discounts almost everywhere you go!Whether you're going to the cinema, visiting a museum or taking public transport, don't hesitate to ask about student fares. Many gyms, restaurants and stores also offer special deals for students.
When ordering online, keep an eye out for sites that offer discounts with your student card via platforms like Student Beans or UNiDAYS.
Prevents impulse buying
Whether you're going food shopping or shopping for groceries, it's a good idea to make lists before you go.Before you go shopping, plan the ingredients you'll need for your week's meals. This will help you avoid buying superfluous products, which you'll let expire at the bottom of the fridge. The same goes for clothes: assess your real needs according to season and occasion. Try to buy timeless, timeless clothes. Pose yourselfsystematically ask yourself, "Do I really need this?".
For larger purchases, ask yourself if you could afford them three times over without jeopardizing your budget. If the answer is yes, then it's probably a reasonable expense.
Save even a little
Even on a tight budget, try to set aside a small amount each month.It can start with a few euros. Set yourself a monthly goal, however modest, and stick to it.
Open a student passbook to encourage you to save regularly: these passbooks often offer benefits such as bonus interest rates or no fees.
Finally, think about cutting back on small, non-essential expenses and redirecting that money towards your savings. Every effort counts to build up a little cash reserve for yourself.
Saving is also an excellent discipline to adopt to prepare for your future. It teaches you to save for the long term and manage your finances better in the future.